With the prestige of holding the title of pub owner, there are also a number of responsibilities that come as part of the package. These include health and safety, payroll, stock control and quality checking, and the dreaded aspect of paperwork. On top of these things, there are other essential items to be sorted out, pub insurance being one of them.
Pub insurance covers a wide range of possibilities that may or may not affect the pub, it’s staff and it’s clientele. As each day in running a business is different, you never know what could happen next, so it is important to ensure you are covered for all eventualities. There are many different packages of pub insurance available, from a large range of insurers, so it’s important to know what your pub insurance package needs to cover.
A basic pub insurance deal will usually cover for burglary, fire and malicious damage. In addition, contents, building, public liability and employers liability insurance are usually offered. Contents insurance covers in the case of damage or theft to any contents and/or stock held in the pub. As stock and contents can be quite costly to buy, insurance for these is vital. Building insurance covers the actual pub itself; again, definitely an important consideration.
It must be kept in mind though that old or listed buildings may have individual features that will need insurance too. Public liability insurance covers in the case of a member of the public claiming against you in the case of injury, such as an accident inside the premises caused by uneven flooring. Employer’s liability insurance works along the same lines, except this is in the case of a member of staff making a claim against you.
On top of these aspects, optional extras can be added to a pub insurance package to ensure all areas are covered for your peace of mind. If you own a string of pubs, these can all be covered with an umbrella policy, which can often save you money and worry about managing different insurance companies and packages. Also, if you own a pub in a busy city centre it could be seen as a higher risk, so this will need to be taken into account.
With all these areas to think about, it may be worth employing the services of an insurance broker to find the best pub insurance cover for your business. An insurance broker will be able to access a wide range of different insurers at once, with the added bonus of being experts in the insurance field and will be able to answer all questions with professional knowledge. This is often beneficial in the case of multi pub owners, especially when they are very busy running their businesses and need to know their insurance is being taken care of by those with specialist knowledge.
Whatever you decide to do in terms of insuring your pub, it is always important to ensure full cover is in place to have peace of mind on a day to day basis. An insurance broker will be more than happy to give advice where needed and to aim to find you the best possible quote to cover your business. Don’t delay insuring your pub; you don’t want to be in a sticky situation if at all avoidable!
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